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Lefroy Exploration Ltd. ( (AU:LEX) ) just unveiled an announcement.
Lefroy Exploration has updated the Mineral Resource Estimate for its 100%-owned Mt Martin gold deposit within the Location 45 freehold land in Western Australia, lifting the resource to 460,000 ounces of gold at an average grade of 1.6 grams per tonne, up from 439,000 ounces in 2024. This revision, completed without new drilling, reinforces the company’s total gold resource base above 1 million ounces across the broader Lefroy Gold Project.
The company has begun a 4,000-metre reverse circulation drilling program at Mt Martin targeting shallow, high-grade extensions within the Main, East, and Adelaide shear zones to grow near-surface resources. Based on revised economic assumptions and pit optimisations that indicate potential for a large open pit operation, Lefroy plans to commence a scoping study this quarter, highlighting Mt Martin’s strategic location and streamlined development potential for stakeholders.
More about Lefroy Exploration Ltd.
Lefroy Exploration Ltd. is an Australian gold exploration and development company focused on the Lefroy Gold Project in Western Australia’s Eastern Goldfields. Its projects, including the Mt Martin gold deposit and Burns Central, are strategically located near the Kalgoorlie-Kambalda mining district and established haulage and processing infrastructure, supporting a pathway toward potential commercialisation.
Average Trading Volume: 173,341
Technical Sentiment Signal: Sell
Current Market Cap: A$42.23M
Learn more about LEX stock on TipRanks’ Stock Analysis page.